Centene Corporation


SKU: CNC-1 Category:


Centene Corporation managed to exceed analyst expectations in terms of revenue as well as earnings, marked by an adjusted EPS of $2, surpassing internal expectations by approximately $0.20. The quarter’s strength was attributed to solid fundamentals, exceptional marketplace growth and outstanding performance, which have also enhanced the outlook for 2023. Centene’s management highlighted key focus areas, starting with Medicaid redeterminations. Over 40% or approximately 1 million members have already undergone redeterminations, aligning with the expected membership and acuity changes as well as the anticipated timing adjustments. Besides, Centene is preparing for Medicaid expansion in North Carolina in December, demonstrating bipartisan support for the program. They also noted increased RFP activity and expanding managed care models in various states. Centene’s Ambetter franchise exceeded growth expectations in the Marketplace and reached almost 3.7 million members, positioning the company for future earnings growth. Centene continues progressing in value creation, optimizing workflows, enhancing service, and building an integrated data fabric. Lastly, the management emphasized the importance of their Pharmacy Benefit Management (PBM) migration project and the successful transition of one health plan, signaling its progress.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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